Modern technology allows people to communicate directly. From telephone and video calls through to instant messaging, this way of conversation helps gain and maintain trust between people, no matter how far apart they are. However, when it comes to money, people usually rely on third parties to be able to complete a transaction. Blockchain is set to change that.
Blockchain is challenging the system through a combination of maths and cryptography; it eliminates the need for third party agencies by creating an open, decentralised database of every transaction, giving a whole new element of transparency. And the impact of this technology? Blockchain is changing the way money, goods, property, and even votes, work.
With blockchain still in its infancy, many experts believe that the companies who are now forming themselves based on blockchain technology will effectively be the next Googles, Airbnbs, and the other giants of tech innovation.
In fact, some have gone so far to say that blockchain is the next Internet, comparing it to how the internet was viewed and received in the 1990s. We had this great pioneering technology but people were not sure how best to use it. The same can be said of Blockchain today. Those prepared to get involved in this potentially revolutionary technology at these early stages are set for an exciting journey with a lot of opportunity.
With this in mind, we spoke to Octavian Panchici, our Blockchain specialist recruitment consultant here at Venquis for a look at some of the stand out start-ups that he thinks are set to disrupt the existing markets.
Based in Berlin, BigchainDB is attempting to do for databases what Bitcoin's blockchain did for ledgers. It’s enabling both developers and enterprises to deploy blockchain proof-of-concepts, platforms, and applications using the scalable blockchain database it has developed. This database is capable of one million writes per second throughout, storing petabytes of data and sub-second latency.
Clearmatics is a company that helps to automate business processes using distributed ledger technology and automated logic. This technology helps execute and validate economic and data processes all within one platform.
Dmarket.io is a global marketplace based on blockchain and smart contracts for trading all virtual items. Focusing on gaming, they are building a platform inspired by blockchain technology that allows players to trade virtual items across different games. This concept looks to become a very lucrative one, with 2.2 billion gamers across the world to date in 2017, and 6% of these trading in in-game items.
4. Follow My Vote
Utilising the security of blockchain technology, Follow My Vote’s software is opensource so that anyone can audit the software’s code. The platform offers unparalleled electoral transparency by giving users the ability to audit the ballot box and watch elections progress in real time. Using a webcam and a government-issued ID, voters can remotely and securely log in and vote for their candidate of choice.
To be a part of something revolutionary and to explore the exciting opportunities that blockchain technology presents get in touch with Octavian Panchici, alternatively, upload your CV here.